The Incumbent Worker Training program through the Montana Department of Labor and Industry provides grant funds to primary sector businesses for training of new, full-time and part-time workers. Primary sector is defined as a business with at least 50 percent of its sales from outside of Montana, or a manufacturing company with 50 percent of its sales from companies that have 50 percent of their sales outside of Montana. The grant review committee may award workforce training grants up to $5,000 per eligible full-time trainee, or $2,500 per part-time trainee, to primary sector businesses that provide education or skills-based training. A company must pay the trainees’ wages and benefits of at least the lower of the average county wage or average state wage.
Is your growing business in need of working capital to support expansion?
Whether you need a low-interest real estate or infrastructure loan, workforce training grant, or angel funding, Missoula Economic Partnership can connect you with the resources to help make your business happen here. Through our working relationships with government agencies, financial institutions, and community development organizations across the region, we will direct you to the most appropriate sources of capital to fit your company’s needs. In many cases, we take an active role in assisting companies with the process of assembling documentation and application materials. Find out more about state funded grant programs below.
Big Sky Economic Development Trust Fund Grants
One way we help local companies is by partnering with Missoula County and the Montana Department of Commerce to administer the Big Sky Economic Development Trust Fund (BSTF) Job Creation Grant program. BSTF grants assist companies in the development of high wage jobs for Montana residents. To receive a grant, a company must be hiring Montana residents, paying at least $20.35 per hour in wages, and expanding our economy by bringing in revenue from selling a product or service outside the state of Montana.
Incumbent Worker Training Grants
Community Development Block Grant Program
Administered by Missoula County, federal Community Development Block Grant funds through the Montana Department of Commerce stimulate economic development activity by assisting the private sector to create or retain jobs for low- and moderate-income persons primarily through loans to businesses. Funding is also available to companies for employee training and infrastructure. The program is designed to assist businesses by making fixed-rate financing available to them at reasonable interest rates, given the risk of the project, and to provide public improvements in support of economic development activities.